Blue Celebrates Its 5th Anniversary with 5 Exclusive Offers

(Hong Kong, 12 September 2023) Since its inception in 2018, Blue, Hong Kong's first digital life insurer, has been dedicated to harnessing technology to deliver insurance solutions that are simple, flexible, and valuable, allowing customers to choose the protection they require. To mark this special occasion, Blue rolls out "5th Anniversary Exclusive Offers" as a gesture of gratitude for the unwavering support from customers.

Introduced Market Innovations for a Simple and Flexible Insurance Experience

Over the past 5 years, Blue has been disrupting the traditional insurance market by unveiling a series of market-first insurance products and services. Blue has showcased commendable performance in 2023. In the first half of 2023, Blue's Annual Premium Equivalent (APE) grew nearly threefold compared to the same timeframe the previous year, and the Value of New Business (VNB) for the first quarter of 2023 also saw an increase of over 60% compared to the same period in the previous year.

Blue provides a comprehensive suite of 6 major insurance categories: Term Life, Critical Illness, Personal Accident, Medical, Savings, and Microinsurance. Over the past 12 months, Blue's portfolio of insurance products has burgeoned, reaching a total of 20. Blue has actively enhanced its insurance offerings during the period, providing comprehensive coverage for a wide range of customers:

Life Insurance: Blue unveiled "WeCare Term Life Protection Plan TL3" along with "Lowest Price Guarantee"[1]. This feature ensures customers to enjoy the best market price for life protection during the first policy benefit terms. Blue has also expanded the eligibility criteria for its Term Life insurance products, accommodating more individuals, who previously ineligible due to certain medical conditions, to benefit from simple and adaptable insurance[2].

Savings Insurance: Following the positive market response to "EasySave ES1 Insurance Plan", Blue introduced "WeSave Short Term Insurance Plan ST1"[3], catering to customers in search of a safer, more reliable, and high-yielding savings option. Merging protection with savings, the product offers attractive returns and a flexible polity term, allowing customers to personalised the coverage for their needs. "WeSave Short Term Insurance Plan ST1" recently elevated its guaranteed rate up to 5%, facilitating the accomplishment of short-term savings aspirations for its users.

Medical Coverage: Blue has enhanced the coverage of "WeMedi Outpatient Insurance" by integrating dental services, with no added premiums for customers. Furthermore, Blue has broadened its clinic network, encompassing services from over 800 affiliated physicians throughout the territory. Customers can swiftly complete their online insurance purchase in just 5 minutes after answering a few straightforward questions. This grants them visits and access to 8 categories of outpatient services throughout the year[4], all at a preferential standard rate.

Blue remains its dedication to public health and wellness. Blue has unveiled "BlueMore" health platform within its one-stop insurance mobile APP, BlueHK. This platform presents an array of hundreds of medical and health-related options, encompassing health check-ups, vaccinations, nutritional supplements, personal care, and fitness courses. Customers can simply redeem their preferred rewards by accumulating HealthCoin.

Mr. Charles Hung, CEO and Executive Director of Blue, said, "From the outset of Blue's journey, our mission has been to reshape the traditional insurance sector through 3 disruptive factors – technology, product, and market. Armed with an innovative mindset, our ambition is to shift the public's conventional view of insurance. We want them to relish the ease offered by our online insurance platform, granting them the liberty to manage their policies with no hassle." He added, "Blue is actively seeking opportunities to broaden its insurance portfolio. We are planning to introduce individual dental insurance coverage within this year, targeting dental health services across the Greater Bay Area. Our goal is to ensure our customers receive top-notch protection, while staying attuned to the dynamic market demands."

Blue Celebrates 5th Anniversary with 5 Limited-Time Promotion Offers

To celebrate its 5th anniversary, Blue is rolling out “5th Anniversary Exclusive Offers” from 12 September to 11 November 2023:

Offer 1 – 70% off first-year premium of “Term Life Protection TL3”

• 70% discount on the first-year premium

• Apply and receive 100 HealthCoin = HK$100, plus a complimentary first-year subscription to “WeMedi Outpatient Protector” (Original Price: HK$388)

Offer 2 – 50% off first-year premium of selected WeCare Protection Series

• 50% discount on the first-year premium of selected WeCare Protection Series including “Flexible Term Life TF1”, “Critical Illness Protection Plan 1”, “3-in-1 Protector” and “Personal Accident Protection Plan 1”

• Apply “Critical Illness Protection 1” to receive 100 HealthCoin = HK$100, plus a complimentary first-year subscription to “WeMedi Outpatient Protector” (Original Price: HK$388)

Offer 3 – First login to the brand new BlueMore health platform and earn 50 HealthCoin

• Log in to Blue’s all-new BlueMore health platform for the first time and earn 50 HealthCoin = HK$50

Offer 4 – “Short Term Insurance Plan ST1” guarantees 5% p.a. return (Limited to 500 places)

• “Short Term Insurance Plan ST1” 2-year plan guarantees 5% p.a. return through paying a lump sum premium

Offer 5 – HK$5 for the first annual premium of “WeGuard PharmaEASY Protector” (Entry Plan)

• Discounted first annual premium at HK$5 for “WeGuard PharmaEASY Protector” (Entry Plan) (Original Price: HK$538)

(Terms and Conditions apply to the product and offer. For details, please visit www.blue.com.hk.)

Remark:

[1] “Lowest Rate Guaranteed” compares the standard premiums of two quotations. To be eligible for the “Lowest Rate Guaranteed”, the two quotations must be on the same premium payment term, policy benefit term, issue age, sex, and smoking status, and is applicable to term life policies that are intended for online sale and in Hong Kong only. “Lowest Rate Guaranteed” is not applicable for submitted applications and in-force policies.

[2] The actual underwriting result will depend on the age and physical condition of the policyholder.

[3] “WeSave Short Term Insurance Plan ST1” is a savings insurance plan, not a Bank savings product.

[4] One visit per each category of Outpatient Services per day. The discount may vary per network doctor and category of Outpatient Services.